Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2380 S Patterson Rd Shelbyville, MI 49344
    Property profile & analytics

    2380 S Patterson Rd, Shelbyville, MI 49344

    View on Map
    • Warehouses
    • 1,716 SF
    • 0.24 lot acres
    For Sale
    $175,000
    View Listing →
    Retail Building Near Gun Lake For Sale
    $175,000
    1,782 SF

    Retail Building Near Gun Lake

    Commercial building across from Gun Lake boat launch.

    2380 S Patterson Road, Shelbyville, MI 49344
    View Listing
    Property ID
    US43-2091560
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2380 S Patterson Rd

    Year built
    2001
    Lot size
    0.24 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    15-500-026-00
    APU
    1550002600

    Description

    This 1,900 square foot industrial building in Shelbyville, Michigan, presents a unique investment opportunity. Located at 2380 S Patterson, the property boasts a highly desirable location within walking distance of a bank, grocery store, Gun Lake launch site, and a park. The 0.04-acre lot includes a valuable 14-foot easement providing convenient access to boat docking or direct park access, offering stunning lake views. The building's versatility allows for a range of potential uses, subject to township approval. This makes it ideal for entrepreneurs seeking a flexible space. The property is situated in Allegan County and importantly, allows for short-term rentals, expanding income potential. The asking price is $375,000, and the seller is exclusively considering all-cash offers or pre-approved financing. This prime location, combined with the building's adaptability and the added benefit of lake access, makes this an exceptional opportunity for a savvy investor. The convenience of nearby amenities further enhances its appeal. Serious inquiries only, with proof of funds readily available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Allegan
    State
    Michigan
    Longitude
    -85.5483
    Latitude
    42.5943
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,327
    $7,700
    $27,400
    $35,100
    -
    $15,400
    $54,800
    $70,200

    Comparable in this City

    • Value Estimation by Request
      29,700 SF

      124th Ave

      MINI-WAREHOUSE, STORAGE
      124th Ave, Shelbyville, MI 49344
      View Details
    • Value Estimation by Request
      3,000 SF

      Marsh Rd

      MINI-WAREHOUSE, STORAGE
      Marsh Rd, Shelbyville, MI 49344
      View Details
    • Value Estimation by Request
      11,360 SF

      2434 Maraleighde Dr

      MINI-WAREHOUSE, STORAGE
      2434 Maraleighde Dr, Shelbyville, MI 49344
      View Details
    • Value Estimation
      $750,000
      3,640 SF

      4550 Cir Inn Dr

      MINI-WAREHOUSE, STORAGE
      4550 Cir Inn Dr, Shelbyville, MI 49344-9445
      View Details
    • Value Estimation
      $535,000
      13,174 SF

      110 124th Ave

      WAREHOUSE, STORAGE
      110 124th Ave, Shelbyville, MI 49344-9766
      View Details
    • Value Estimation
      $970,000
      10,650 SF

      1108 129th Ave

      WAREHOUSE, STORAGE
      1108 129th Ave, Shelbyville, MI 49344-9577
      View Details

    Similar Nearby for Sale

    • $225,000

      Shelbyville Industrial/Warehouse Opportunity

      1,782 SF industrial/warehouse building on 0.244 acres for sale.
      2380 South Patterson Rd, Shelbyville, MI 49344
      View Details
    • $59,900
      0.54 Acres

      Shelbyville Commercial Lot For Sale

      C-2 zoned commercial lot near 124th and Patterson corridor.
      2391 Sterling Ln, Shelbyville, MI 49344
      View Details
    • $530,000
      Pending

      Gun Lake Duplex Investment Property

      Updated duplex on Gun Lake with channel frontage.
      Shelbyville, MI 49344
      View Details
    • $129,900
      9.93 Acres

      Recreational Land Near Gun Lake

      9.93 acre recreational and hunting land opportunity.
      Wildwood Rd, Shelbyville, MI 49344
      View Details
    • $2,850,000
      784,080 SF

      Prime Land Near Gun Lake

      18-acre commercial land parcel near Gun Lake Casino.
      1130 128Th Ave, Shelbyville, MI 49344
      View Details
    • $30,000
      Pending

      Corner Parcel with Development Potential

      1.13 acre corner parcel with excellent visibility and access.
      2429 14Th St, Shelbyville, MI 49344
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2380 S Patterson Rd
    Shelbyville, MI 49344
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2380 S Patterson Rd, Shelbyville, MI, 49344
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!